Question

If you deposit $10,000 into an account that pays 6.5% interest compounded semiannually, how much money will you have

after 7 years?

Answer 1

PV = $10,000(1/1+6.5%^2x7) It is 7 years semiannually, which means 2 interest payments each year.

Step-by-step explain

Round it to the nearest $100

find this out by using

A=P(1+r/n)^ntnation:

hope this helps